Contiguous Fourplex Apartment
For Sale
$1,792,000
7032 Glasgow Ave, San Bernardino, CA 92404
Two contiguous single-story fourplexes offer eight separately metered two-bedroom apartments with on-site laundry and covered parking.
Property Size5,760 SF
Lot Size0.35 Acres
Price / SF$311.11
Days on Market109
Property Features for 7032 Glasgow Ave
General Information
Standard status
Active
Size
5,760 SF
Lot size
0.35 Acres
Property subtype
Multifamily
Additional Details
Multifamily Units
8
Amenities
Two contiguous fourplexes totaling eight units | single-story construction
All Two Bedroom & One Bathroom Floor Plans
Recent Capital Improvements Completed: New roofs & dual pane windows
On-site owned laundry facility | Covered carports, garage, and street parking
Individually metered for gas & electricity | Individual hot water heaters
Proximity to major employers including Amazon, Walmart, and Stater Bros. along key I-10 and I-15 corridors
Building Details
Building Size
5,760 SF
Stories
1
Units
8
Listing Agency:
MARCUS & MILLICHAP
(626) 695-6776
Listed By:
Douglas McCauley · License #License(s): CA: 01155706
(626) 695-6776
Source:
Marcusmillichap
Added: May 8
Changed: Aug 23
Last Checked: Aug 22 at 2:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MARCUS & MILLICHAP
Investment Insights
Based on property information with market context.
This offering presents a pair of well-maintained, contiguous single-story fourplex apartment buildings: 7032 and 7036 Glasgow Avenue. The property is comprised of eight units total, all with two-bedroom, one-bathroom layouts, and each unit is individually metered for gas and electricity. Units also include individual hot water heaters, wall heaters, and window air conditioners, with tile and vinyl plank flooring throughout. An on-site laundry room is owned, and residents have access to covered carport parking along with street parking.
The buildings have undergone notable recent improvements, including roof replacements approximately four years ago with a 10-year warranty, and window replacements approximately three years ago. Each building is situated on its own parcel, and the two legal parcels are recorded separately.
The asset is offered as a combined assemblage, with the recorded parcels supporting the ability to finance each building independently under its own 30-year fixed-rate conventional mortgage or together under a single commercial loan.
The buildings have undergone notable recent improvements, including roof replacements approximately four years ago with a 10-year warranty, and window replacements approximately three years ago. Each building is situated on its own parcel, and the two legal parcels are recorded separately.
The asset is offered as a combined assemblage, with the recorded parcels supporting the ability to finance each building independently under its own 30-year fixed-rate conventional mortgage or together under a single commercial loan.
Key Highlights
- Contiguous pair of single‑story fourplex buildings at 7032 and 7036 Glasgow Avenue in San Bernardino, CA
- 8 total units, all 2‑bedroom/1‑bath, each unit is separately metered for gas and electricity
- Individually heated with wall heaters and window air conditioners; each unit has its own hot water heater
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,880
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,477,600
$1.5M
Cap Rate 7%
$1,055,429
$1.1M
Cap Rate 9%
$820,889
$820.9K
Market Conditions
NOI Build-Up for 5,760 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$141.7K $24.60/SF
− Vacancy
−$7.4K −$1.28/SF
EGI
$134.3K $23.32/SF
− OpEx
−$60.4K −$10.49/SF
NOI
$73.9K $12.83/SF
Area
San Bernardino, CA
Vacancy
5.20%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,477,600
Cap Rate 7%
$1,055,429
Cap Rate 9%
$820,889
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$923.5K – $1.23M
NOI $73,880 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,430 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 92404, CA
64,270
Population
19,403
Households
3.3
Avg Household Size
31
Median Age
10%
College-Educated
72%
High-School Grad
31.6 sq mi
ZIP Area
2,034
Density / Sq Mi
$66,173
Median Household Income
$36,237
Median Earnings
$1,386
Median Rent
$383,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two contiguous single-story fourplexes offer eight separately metered two-bedroom apartments with on-site laundry and covered parking.
Where is this apartment building located?
The property is located at 7032 Glasgow Ave San Bernardino, CA.
What is the asking price?
The asking price for this property is $1,792,000.
What are key features of this property?
This property features: Contiguous pair of single‑story fourplex buildings at 7032 and 7036 Glasgow Avenue in San Bernardino, CA; 8 total units, all 2‑bedroom/1‑bath, each unit is separately metered for gas and electricity; Individually heated with wall heaters and window air conditioners; each unit has its own hot water heater
